Poly Network Exploit, Flamingo Finance Features Impacted

Poly Network temporarily suspended its cross-chain services in response to an exploit targeting the Poly Network cross-chain management contract on Aug. 12, affecting Flamingo Finance features.

General Updates

Several updates were announced for the Neo ecosystem this week, including the temporary suspension of cross-chain services by Poly Network following an exploit, upcoming events, new dApp launches, and more.

Poly Network temporarily suspended its cross-chain services in response to an exploit targeting the Poly Network cross-chain management contract on Aug. 12, affecting Flamingo Finance features. The hacker currently has approximately $2.9 million in ETH, wETH, and wBTC, and $200,000 in BNB. Eight addresses belonging to the attacker have been frozen by the Neo Council, four of which appear to be deposit addresses for centralized exchanges.

NGD will co-host the Neo Vibe Tokyo pre-party for the WebX conference in collaboration with CoinTelegraph Japan, OKCoin Japan, and Neo Smart Economy Japan. The Aug. 25 event will celebrate the launch of Neo X. Five visitors will be chosen randomly to receive a WebX conference ticket, and the first 50 visitors will receive a Neo hat.

Asteroneo has launched a non-custodial exchange on the Neo X EVM sidechain, and plans to release an NFT project on Aug. 19. The DEX is aimed at offering users the ability to provide liquidity to pools, swap tokens between pools, and take advantage of high-yield farming opportunities. Its NeoNauts NFT project is a collection of 5,000 custom, in-house designed space-themed cat NFTs that are planned to also offer DEX utility to holders.

COZ released Neon Wallet 3, the latest version of its self-custodial wallet designed for desktop and mobile platforms. This new version offers a range of improvements and features that streamline the experience for both new and existing users, and includes support for Neo X. Existing Neon users will need to follow a migration process, while new users can create accounts for Neo N3, Neo Legacy, Neo X, and Ethereum.

Neo announced a collaboration with Photon Labs, which will ultimately support the integration of PBTC, the world’s first non-rebasing BTC token, onto Neo X.

NeoDashboard released a video on how to mint a Neo X NFT on GhostMarket, and another on how to list an NFT on GhostMarket.

OwlX added Neo X to its AI information discovery platform’s list of supported blockchain networks. The AI-powered media aggregator allows users to track and explore Web3 projects built on Neo X and other ecosystems.

Carrot Swap announced the upcoming launch of its non-custodial exchange on Neo X on Aug. 20.

Intersect Finance announced plans to launch its borrow-and-lend protocol on Neo X TestNet in August. The platform will offer single-click deposits and withdrawals, real-time loan-to-value health tracking, and multi-asset support.

Frank Coin hosted a community quiz on the team’s official Telegram channel, where the top three participants each won 80 FLM, and those ranked 4 – 13 each won 45 FLM tokens. Frank Coin also shared an X thread on migrating GAS from N3 to X and trading for tokens.

Pixudi CEO and founder Alex Scoresby joined a CoreDAO stream entitled Unleashing the Power of Core in Gaming to discuss the NFT board racing game.

Developer Updates

Neo SPCC released a new patch version of NeoFS REST Gateway, which delivered bug fixes and included a PUT handler optimization.

AxLabs shared insights via a company update on the Neo X EVM sidechain and its potential for interoperability with other ecosystems, the chain’s complementary qualities with Neo N3, the challenges building a new EVM chain, and adding support for Neo X to 1ClickNode and GrantShares.

NNT Catch Up

NNT released Episode 70 of The Smart Economy Podcast with Laurent Benayoun, CEO of Acheron Trading, a financial services company that builds liquid markets for digital assets. Topics of discussion include the rise of crypto-backed ETFs and their impact on the market, the shift from trading pairs against Bitcoin to stablecoins like USDT and USDC, the importance of staying ahead of evolving blockchain technologies and liquidity models, emerging trends in DeFi, the uncertain future of crypto regulations and their potential implications, and much more.

NNT editors co-hosted Crypto Coffee and Blockchain Beer Spaces #30 on the official The Smart Economy Podcast X account. Topics of discussion included the Poly Network hack and impact on NEO and GAS, new dApps on Neo X, an arbitrage opportunity on Flamingo Finance, the Rare Evo VIP party, and exploring the Cardano ecosystem at the two-day event.

Events

Aug. 22: NNT editors hosting CC & BB #31 on The Smart Economy Podcast official X account

Aug. 25: Neo hosting Neo Rise Tokyo party ahead of WebX

Aug. 27: Meme2Earn Community Fireplace on its official Discord server

Aug. 27: